And yet they are offering a measly $200 credit to households and $2,500 credit for businesses for the power outage.
Many will receive no credit because they are seniors with limited Internet access, or have language barriers. PG&E sucks!
And yet they are offering a measly $200 credit to households and $2,500 credit for businesses for the power outage.
Many will receive no credit because they are seniors with limited Internet access, or have language barriers. PG&E sucks!
Just lost power in outer sunset!
The City should own the Lines, and Distribution Grid -- and then as consumers we should have the option to buy power from a mix of power generators. I want companies that create electricity to compete on price and availability, but I want my grid to be rock solid like my streets and water are.
In the last decade it's become clear that PGE creates profit from increased prices, and a reduced commitment to maintaining infrastructure. I DO NOT WANT MY POWER COMPANY profiting by constantly increasing prices and throwing safety under the bus.
We need to realign incentives so power generating companies are incentivized to compete for more customers through lower prices.
We will never have companies that create electricity to compete on price and availability because power plants are banned on the Peninsula. All the power comes from either PG&E or NRG in Antioch. We ain't getting more power until we allow it. The most we could get under CEQA is letting Redwood City turn the Cargill Flats into a gas power plant. There is only one future for us now that nuclear is gone and it is gas carbon energy.
What about solar?
Never gonna happen, because the city doesn’t want the liability of all the crap infrastructure that’s been built.
A lot easier to blame someone else than take responsibility for 50 years of shitty planning
It was maintained pretty well till the 90s
Yeah, ironically that’s when deregulation started and they introduced competition into the generation side of the house. I don’t know if decoupling generation and distribution was a good idea in hindsight, because that seems to be right about the same time that things started really going bad.
It was a grift to double the stock price with stock buybacks and increased dividends to look like that would always be the case, the 5 billion set aside for maintenance and emergencies was used to pay for it. Then they all sold the stock. They also manipulated the market, taking plants off line at key times.
Things you need (power,water,sewer,clean environment) should never be unregulated
That was Enron that was manipulating the power plants though. Iirc, Enron ended up bankrupting PG&E
They all were
Wait, why will people with limited internet not get a credit?
And utilities should not be privately owned. And if they must be, then for god's sake open the fucking market to competition. Are we a capitalistic society or not? because it sure seems like capitalism is only espoused when it's convenient for whatever oligarch has their lips flapping at the time.
Regulated utilities are just a wrapper that lets the state raise equity capital for the power system and shield itself from wildfire risk. All the actual investment is dictated by CPUC.
The Abc7 article made it sound like a claim needed to be filed.
Claim does not need to be filed for the credit—it’s automatically applied
IIRC you can still file a claim for food losses even after getting the credit
Gotcha. The email they sent out said the $200 residential credit is automatic, but any requests above and beyond that need to happen on some claims website.
The credit attaches automatically to each impacted account. It does not preclude someone from filling out a claim form to see if PG&E is liable for additional damages to your home or business.
You should try to understand something before stating incorrect opinions
Welcome to Reddit and understanding of our electric system
Good point!
Why is my opinion incorrect? Some people will not be able to apply for an increased credit. $200 barely covers ruined groceries for people. How about you stop simping for PG&E?
Oh boo hoo. You have a stick up your ass because I’m not an expert on PG&E refund policies. That still doesn’t erase the fact that they made more than $2 billion in profits, can’t decently operate the power grid with proper maintenance and then gives people pennies when they fuck up. We know where your heart is, PG&E simp.
First of all, it’s a credit, not a refund. Secondly, all you need to do to know this is to be able to read and do a little critical thinking. But that’s too hard, huh?
Making billions of money off electricity is criminal.
It’s an essential need.
F off already PGE.
And the stock is down over the last three years. It’s still up from its bottom in 2019, but trading at less than a third of its average prior to that. Where’s the money that’s supposed to be going to shareholders?
How much did they pay Gavin?
Enough to take billions of dollars from California residents and enrich themselves with it, apparently
Reminder that CPUC dictates what infrastructure investments they're allowed to make. PG&E just gets a fixed RoE in exchange for taking on all the wildfire risk.
And their CEO was making over $53M a year.
Thank you. This is the utter fucking outrageous bullshit that should make us all rage. Fucked up.
Criminals.
This profit doesn't count for $15 billion annually they're investing in the grid. California with all of its ballot measures etc. has finally passed $1 billion in annual reliable funding for HSR.
Good luck getting the state to invest in the grid when a NIMBY won't vote for it until those power lines nearby are moved, or Diablo Canyon is shutdown, etc. etc.
PG&E sucks but there's a reason why publicly traded utilities in other states charge 1/3 the electric rate and it isn't because PG&E is especially bad it's because they're consistently hamstrung by government regulation, NIBMYs, etc. against the "big bad corporations".
If it weren't being run for profit we could have 1 billion more dollars spend on maintenance and prices 1.4 billion dollars lower.
Gross profits or net profits?
This is obvious scheme of corruption. I'm sure relatives of Lurie and Newsom are making money off PG$E in various ways. That's why we still don't have our own electricity supplying company and Calfornia doesn't pressure PG$E to reduce prices instead of increasing them.
Wow! Number is big!
So that’s a profit of $430/year/customer. So if their profit went to zero your monthly bill would go down $35. Good to know.